If you haven’t noticed, there is an overflow of video content on the Internet. Over 100 hours of content are uploaded to YouTube every minute. And that’s just YouTube.
Nearly every publisher and network — from AOL, Yahoo, Hearst, and Conde Nast to BBC, CNBC, and Scripps — is developing its own original digital video library and syndicating network shows online. Brands like Lexus, Chipotle, and Red Bull are also adding premium video to the already overwhelming volume of videos streaming online as everyone tries to figure out their OTT strategy.
So when a new discovery tool like the iOS-first application that has been developed by N3twork hits the market, it piques our interest over here at VideoInk, as it’s a topic we’ve covered quite extensively. Launching today, N3twork has evolved its original model of curating and collecting everything from the Internet to a more video-specific product it’s calling a “very personal television network, centered around a viewer’s unique interests.”
First available on iOS devices and synced to Apple TV for a living-room viewing experience, N3twork is pulling in over 1,000 hours of video content a day from 6,500+ publishers like BBC, YouTube, and Vimeo. It’s cataloging them into hash-tagged categories, and surfacing video based on users’ likes and interests.
Viewers can then “Watch Now,” add videos to a queue to “Watch Later,” or even upload their own videos into N3twork’s player on a personalized “channel.”
Other users can then follow each other’s channels, as well as categories like “Health and Fitness,” “Sports,” and “Fashion / Beauty,” or custom hashtags.
Take a look here:
The question for N3twork is not whether the product is sound. It’s whether this app can succeed where those other companies have struggled — user adoption and monetization.
CEO Neil Young tells me they plan to monetize in multiple ways: through “engagement-based” events from within N3twork; via channels powered by N3twork’s team as a content marketing strategy for brands; syndication; and lastly, custom targeting of premium content into niche audiences. (Remember, a driver of N3twork’s recommendation engine is hashtags, broad and super-narrow, to drive community around various interests).
But for now, N3twork app’s functionality could earn it a staple following if the audience appetite is there and with funding from some marquee video investors like Kleiner Perkins and Google Ventures, N3twork just might have a chance at surpassing the competitors in the market.